Sainsbury pension fund doubles exposure to bonds

By

Ben Wright

March 3, 2003 5:00 p.m. GMT

J Sainsbury, the UK supermarket operator, is doubling its pension fund's allocation to bonds as part of the firm's effort to tackle a funding deficit that is expected to be revealed by an actuarial valuation at the end of March.

Geof Pearson, pensions manager at J Sainsbury, said: "This is not a Boots-type change, but it is moving in the same direction. As well as increasing our overall allocation to bonds, we are going to diversify more within the different asset classes."